How to Buy Property in Singapore While Living Overseas

Know The Rules

Property laws in Singapore have long been the most transparent all over Asia. However, differences exist between citizens, Permanent Residents (PRs) and foreigners. Under the Residential Property Act, even if you are a super high-net-worth individual from abroad (UHNI), you still mainly fall under the term ‘foreigner.’ You may buy without prior approval:

• Condominium units and apartments in approved developments.
• Commercial properties such as offices, retail units and industrial space.
• Land properties, for example, detached or single semi-detached houses, as well as bungalows and GCBs (Good Class Bungalow).
• Strata landed housing in non-approved developments.

With the SLA requiring applicants to demonstrate their economic contribution to the nation, the approval process for landed property is strict. For many foreign purchasers, luxury condominiums, especially in prime districts such as Orchard, Sentosa Cove and Marina Bay, are the obvious choice.

Factor in the Taxes and Additional Costs

Singapore Property Laws Foreign Buyers are transparent, it is important to consider that, as a foreign buyer, you must account for the Additional Buyer’s Stamp Duty (ABSD), which is currently 60% for foreign individuals purchasing residential property. However, many UHNWIs regard this expense as the price of joining one of the gold-standard and perennially in-demand real estate markets. ABSD is levied in addition to Buyer’s Stamp Duty (BSD), which is on a tiered basis according to the value of the property being purchased. Other costs to consider:

• Legal conveyancing fees.
• Property maintenance charges (especially in luxury condos).
• Mortgage-related costs if financing is involved.

For investors with a large portfolio of investments, tax structuring is often performed in consultation with wealth managers and international tax experts and is vital in order to achieve higher future returns.

Collaborate with Strategic Real Estate Experts

Purchasing high-value real estate remotely requires more than just listings; it demands local insight, access to off-market opportunities and professional discretion.Singapore Luxury Homes offers:

• Private previews and viewings (in person or virtually).
• Negotiation expertise in premium property segments.
• Knowledge of developer reputations, build quality, and resale potential.
• Coordination with lawyers, bankers, and tax consultants.

For UHNIs, this partnership ensures every decision is backed by data, market intelligence and an intimate understanding of Singapore’s luxury property nuances.

Explore Financing Options Early

Though outright purchase is popular among many UHNWIs, others choose financing to keep liquidity in their international portfolios. Financing is available to foreigners from Singapore banks, usually up to 75% Loan-to-Value (LTV), though the actual limits will depend on:

• Credit profile.
• Asset base
• Relationship with the bank.

Setting up private banking relationships in Singapore before acquisition can facilitate accelerated loan approvals and provide access to preferential interest rates. In addition, SGD financing can serve as a currency hedge for investors with multi-currency wealth exposure.

Perform Virtual Due Diligence

Overseas living no longer has to be an obstacle to comprehensive property assessment. Modern technology allows:

• High-definition virtual tours. Live video inspections.
• Drone footage for grand estates.

In addition to visuals, due diligence should encompass:

• Reviewing the title deed of the property.
• Understanding maintenance history and future works.
• Analyzing market comparables and anticipated appreciation.

Your real estate agent can also facilitate professional inspections of the property, providing you with absolute confidence before committing.

Consider Lifestyle and Residency Benefits

For most UHNWIs, purchasing in Singapore is not just an investment opportunity; it is gaining a toehold in one of Asia’s most livable cities. Whilst the acquisition of property does not immediately provide residency, it may support relocation strategies. Those investors who want to live in Singapore tend to investigate:

• The Global Investor Programme (GIP), provides permanent residency to those investing in businesses or approved funds.
• Creating family offices to oversee wealth in Singapore’s beneficial regulatory environment.

Coupling property ownership with planning for residency enables you to maximally benefit from the country’s strengths, world-class healthcare, education, infrastructure and political stability.

Thoughts on Ownership and Successor

UHNWIs often view Singapore property as a generational asset. As such, structuring ownership is critical:

• Holding via personal name for straightforward transactions.
• Using corporate structures or trusts for estate planning and tax efficiency.

Due to the global nature of UHNI assets, it is in your best interest to have counsel with a deep understanding of both Singapore law and your home country. This way, assets would be easily transferable to subsequent generations without any hindrance due to cross-jurisdictional conflicts.

Complete the Transaction Remotely

It is entirely possible to finalize a Singapore property purchase without physically being present, thanks to:

• E-signature-enabled contracts.
• Remote identity verification with legal firms.
• International bank transfers for payment.

Your appointed lawyer will manage conveyancing, register the property with the SLA, and ensure all taxes are paid, while you remain in your home country.

Conclusion

To the global ultra-wealthy, purchasing Singapore real estate while living overseas is more a matter of strategy than of breaking down barriers. With the prevalence of a stable political climate, a transparent legal framework and property prices that have consistently risen over time, Singapore is still a haven for wealth, all things being equal. From penthouse views of the skyline and waterfront mansions in Sentosa Cove to a series of investment-grade apartments, Singapore Luxury Homes helps make this process come alive with assurance.

We at Singapore Luxury Homes specialize in offering a Singapore property purchase guide for expats through every nuance of the process, from market entry to portfolio growth. With us, your Singapore property acquisition is not just a purchase; it is a statement of intent.